Brazilian monthly inflation weighed in at 0.4% in May, influenced by a truckers’ strike that month, the Brazilian Census Bureau (IBGE) said Friday. Inflation in April was just 0.22%. The 12-month inflation rate as of May rose to 2.86% from 2.76% the previous month. The truckers’ strike in the second half of May halted production at many factories and caused delivery delays of foodstuffs and fuel. Fuel, food and housing costs all rose in May. Gasoline prices soared by 3.3% during the month and diesel fuel by 6.2%. Economists said effects of the strike will still be felt in the June inflation figures. Inflation is still below the government-set target range of 3.0% to 6.0%. However, economists expect inflation to end the year slightly above 3.0%.
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